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How long are we going to get walked on?

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chris gallo

Thread Starter
Sophomore Member
Joined
Mar 15, 2006
Professional Status
Certified Residential Appraiser
State
Maryland
I have been reading the forums on the inpending changes coming and have been trying to weigh the advantages and disadvantages and the only thing that comes to mind is that in the end the appraisers are going to get screwed. Lets face it there are strong lobbiest out there for the real estate agent markets and mortgage but as appraisers we are very independent and do not have enough clout. What I mean is we are not united enough.

The economy has shifted and we are all being affected. Cost to do buisiness is rising, inflation is growing and we are now looking at the end of our independence as buisiness owners as we will be at the mercy of AMC's cutting each others throats for work at ever lower fees. I don't agree with comp checking, pushy loan officers, pushy real estate agents and I do not have all the answeres but I do believe we should be paid fairly for the work we do. You now have to have a college degree to be a general appraiser, but what is the sence as you will be on a wheel waiting for a potential order that you will have to bid against other appraisers for the lowest fee instead of getting the job based on your ethical, professional experience. Passing that test should't be the green light to do those jobs.

Where I live they have deregulated electric saying that it would bring more competative pricing to the people and instead they all just raised the cost together screwing the public. Look at milk, same thing.

Here is my suggestion, if the lenders become forced to use AMC's to order appraisals and that is to become the norm then there should be an expected fee for the work provided by the appraiser. I mean a standard fee that can escalate for more complex properties of course. Why should it be legal for an AMC to charge 350-450 to the public and pay 200 or less to an appraiser? This borders on being legal and or not legal as a title company cannot charge bogus fees for work not performed as well. Taking an order and forwarding it to an appraiser does not justify the money they recieved when the home owner is paying for an appraisal. The home owner expects the fee to be paid is for the appraisal work performed and that is it. I have heard nothing that protects the appraisers rights to charge a reasonable fee for the work performed and that prevents AMC's from gouging the appraiser.

How about we start ourselves a lawyer management company and now if you want a lawyer we get one for you and now we get 20% of the fees and give the lawyer 13% or less after we make them bid for the jobs. Does this sound familiar? Do you think they would stand for it?

Back to my suggestion, is it time for the appraisers to unify and possibly hire an attorney and or lobbiest to protect our interest or are we going to lie down and take it where the sun don't shine? The fact is these AMC's can survive by charging over our fees for their money and still be profitable.

If all the appraisers refuse to work for less than what is reasonable and the AMC's refuse to cooperate then the mortgage industry comes to a halt. Unless they really believe in Zillow.

I believe we need to protect and preserve our profession.
Is it time to unite? What do you all think?
 

Diego Lopez

Member
Joined
Sep 11, 2006
Professional Status
Certified Residential Appraiser
State
Florida
we can file suit claiming the fannie/freddie agreement is monopolistic. Maybe we can get it ammended to something more benefial to the independent fee appraiser.

It takes money to do that we need to everyone to ship in. Im in, if we can get some people involved.
 

chris gallo

Thread Starter
Sophomore Member
Joined
Mar 15, 2006
Professional Status
Certified Residential Appraiser
State
Maryland
If we have an attorney that contacted every appraiser by mail if necessary, it would't be alot of money per appraiser. The attorney would make a lot of money I know but we would at least be represented properly.
If we appraisers think this is a plausible worthwhile idea then we should strongly concider moving forward. We are only seeking fairness.
 

Roy Courtney

Senior Member
Joined
Dec 8, 2006
Professional Status
Certified General Appraiser
State
Texas
What if those of us that cared celebrated a type of "Independence" two-week period beginning July 1st. thru July 14 we were all on vacation, attending CE classes, etc. Pick just one large AMC and everyone be gone for just that one AMC. If they could not get any appraisals for two weeks they may discover that it is they that need us! I am not suggesting every AMC because there are those of us that earn our living with them. Let's just pick one and give it a try. Yes, I have been told that you cannot herd cats and I agree. There will be those who will not join. But those that do could make the difference.
 

J Adair

Freshman Member
Joined
Jun 28, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
Chris has a great idea! What we as appraisers need is unity and conformity. The real estate industry has NAR along with their state affiliated boards that represent them. They were powerful enough in the state of Maryland that they lobbied to have a state service tax increase removed from their profession. I think that the Appraisal Institute should require all appraisers to pay into a similar fund for representation for our profession against an all out overide of our careers.
 

Joe Booth

Junior Member
Joined
Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
California
Many professions have lobbiest representing their cause. If any profession needs one it' ours. Pam and many members of this forum are leading us in that direction.

Thank you.
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
...

If all the appraisers refuse to work for less than what is reasonable and the AMC's refuse to cooperate then the mortgage industry comes to a halt. Unless they really believe in Zillow.

I believe we need to protect and preserve our profession.
Is it time to unite? What do you all think?

I think that it ("if all the appraisers refuse to work for less than what is reasonable...") is a VERY BIG "if".
 

Joe Booth

Junior Member
Joined
Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
California
I hate to say the "U" word. But is this what we need? An appraisers Union?
 

elviscostello

Freshman Member
Joined
Dec 28, 2007
Professional Status
Certified Residential Appraiser
State
New Jersey
I was told we a union wouldnt work for us because technically we will still be independent contractors. I'd like to know if anyone knows more about this. But we could form a coalition. Heres the dictionary definition: "A coalition is an alliance among individuals, during which they cooperate in joint actioneach in their ownself interest. This alliance may be temporary or a matter of convenience. A coalition thus differs from a more formal covenant. Possibly described as a joining of 'factions'" Im not that versed on this
but perhaps someone out there can add to this.

Im glad to see these posts. I havent been able to stop thinking about what is going on. Many of our peers may not realize what is going on or are ignoring the changes that certainly will have an impact on us IFA's. If we stand united we have a greater chance-- why cant we have a say in our fate? Id go to Washington to protest if I thought it would help. But I feel like just a little guy in this without a voice.
We need change but not the way its happening. Our voices are not being heard!
 
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